jabiru funding announcement..., page-10

I made my money on it by buying in over the March fall, but am out again now.


Either through corporate naivete, failure of advisory staff, or blatant incompetence from the CEO, coming out of a trading halt to announce this is pure vulnerability to takeover by massive dilution, agreed to and signed off by the Board, just as the plan comes together.

Any CEO worth his price in luxury yachts would have kept the halt going and put out for better negotiations, instead of releasing the Halt and discounting.

Either institutional investors get either less than half the company at 65c for $200m, or they get the entire company for maybe $350mil if they can keep driving it down lower, and lower, and lower...


Good luck sustaining _any_ ASX value prior to announcing that the Decision to Off-Market-Discount resulted in being entirely owned by your competitors, NWT.